Top Stories by Bryan J. Lima
As of May 1st, the new home appraisal rule, formally known as the Home
Valuation Code of Conduct, went into effect.
Home Valuation Code of Conduct Highlights:
Consumers cannot order an appraisal directly from the appraiser.Mortgage
brokers cannot be involved directly in selecting an appraiser.Lenders must
order appraisals through an appraisal-management company or an employee not
involved in loan origination.Lenders are allowed to own the
appraisal-management company they use.There is an exception for small banks
that can't afford to hire a management company or separate staff to arrange
appraisals.The rules do not apply to government-insured loans such as FHA or
VA loans.They also do not apply to appraisals for loss mitigation, such as
foreclosures and short sales.
The objective of the new rule is to reduce home-appraisal fraud, however,
there are a lot of mortgage ... (more)
I recently discovered a great new service brought to you by Google. If you're
tired of paying to call 411, this is a perfect alternative. It's called
GOOG-411 and it's free!
All you have to do is dial 1-800-GOOG-411 from you phone. For all you
BlackBerry users it's 1-800-466-4411. You can access the service from a
mobile phone or a land line. It's also voice activated, so you don't have to
press any numbers on your keypad if your driving or busy doing something
else. It's very simple, just say where you're looking and what you're looking
for. The service will then connect you dir... (more)
For all you current homeowners, this is my first post in my "maintenance
series" of posts that I'm planning on blogging about over the next couple
months. I hope you find this information helpful as you get settled in your
new home. If you have any questions or need additional advice, remember that
I'm just a phone call away.
When you first move into your new home it is a good idea to take care of a
few small things that can make a big difference when it counts.
Change the locks on all your exterior doors. Unless your house is brand new
you never know how many strangers may have a ... (more)
You're not going to believe this! Whether you're a Formula 1 racing fan or
not, this video will definitely capture your attention. It starts with a
couple die hard Lewis Hamilton fans that worked on a side project where they
placed a bluetooth receiver in an RC car and controlled the car with a
BlackBerry Storm cell phone. When Lewis Hamilton's F1 team caught wind of
this, they recreated this process in a real Formula One race car. You have to
see this to believe it! By the way, there are less than 15 days left before
the official start of the Formula One racing season.
It appears that Fannie Mae and Freddie Mac have decided to expand the type of
properties available for the refinancing through the Homeowner Affordability
and Stability Plan. This is great news for borrowers, especially current
owners of second homes and multiple family (one to four units) dwellings.
Originally, we heard that this program would only apply to owner-occupied
The following article goes into more detail of the new rules of the program
recently released by Fannie Mae and Freddie Mac to all participating lenders.
See below for related post... (more)